Category: Business Is Business COLLATERAL A well-dressed man walked into a bank in New York City and asked for the loan officer. He told him that he was going to Europe on business for two weeks and needed to borrow $5,000. The bank officer said that the bank would need some kind of security for such a loan, so the man handed over the keys to a new Rolls Royce parked on the street in front of the bank. Everything checked out and the bank agreed to accept the car as collateral for the loan. An employee drove the Rolls into the bank's underground garage and parked it there. Two weeks later, the man returned, repaid the $5,000 and the interest, which came to $15.41. The loan officer said: “We were very happy to have had your business and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multimillionaire. What puzzled us is why would you bother to borrow $5,000?” The man replied: “Where else in New York can I park my car for two weeks for 15 bucks?” If you enjoy my jokes, please recommend this webpage to your friends! Thanks.

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